Keenova Therapeutics plc

Keenova Therapeutics is a purpose-driven pharmaceutical company focused on developing, manufacturing, and commercializing branded therapeutics for patients with rare or unaddressed conditions. Headquartered in Dublin, Ireland, with a significant U.S.-focused commercial and manufacturing presence, the company operates under the tagline "Keen to Solve, Keen to Serve," reflecting its commitment to improving patient lives.

The company's portfolio spans diverse therapeutic areas, including immunology, urology, hepatology, ophthalmology, orthopedics, critical care, rheumatology, nephrology, pulmonology, neurology, and pediatric endocrinology. Key products include TERLIVAZ® (terlipressin) for hepatorenal syndrome-acute kidney injury, XIAFLEX® (collagenase clostridium histolyticum) for Dupuytren's contracture and Peyronie's disease, and Acthar® Gel (repository corticotropin injection) for inflammatory and autoimmune conditions.

Keenova Therapeutics was established in November 2025, emerging from the merger of Mallinckrodt and Endo Pharmaceuticals' branded businesses, following the spin-off of their generics and sterile injectables unit, Par Health. Led by CEO Siggi Olafsson, the company reported a pro-forma combined revenue of $1.7 billion in 2024 and employs over 1,600 individuals. Keenova intends to pursue a listing of its ordinary shares on the New York Stock Exchange in 2026.

Latest updates

Keenova Data Suggests Real-World Efficacy of Terlipressin in HRS-AKI

Event summary

  • Keenova Therapeutics will present data at Digestive Disease Week (DDW) 2026 on the use of TERLIVAZ (terlipressin) in treating hepatorenal syndrome-acute kidney injury (HRS-AKI).
  • The presentation analyzes real-world treatment patterns and outcomes from seven U.S. hospitals.
  • HRS-AKI incidence is rising, with projected inpatient diagnoses increasing from 42,930 in 2018 to 63,381 in 2023.
  • TERLIVAZ is the only FDA-approved therapy for improving kidney function in adults with HRS-AKI, but is ineffective for patients with creatinine >5 mg/dL.

The big picture

Keenova’s focus on rare diseases positions it to capitalize on unmet needs, but the company’s reliance on a single product, TERLIVAZ, creates concentration risk. The presentation at DDW is crucial for reinforcing the drug's value proposition and addressing concerns about its safety profile, which could significantly impact investor confidence and future revenue projections. The rising incidence of HRS-AKI underscores the potential market size, but also highlights the need for improved treatment options and management strategies.

What we're watching

Adoption Rate
The presentation’s findings could influence adoption rates of TERLIVAZ, particularly if the data highlights limitations or unexpected side effects beyond the known respiratory failure risk.
Competitive Landscape
While TERLIVAZ is currently the only approved therapy, the presentation’s data may spur research and development of alternative treatments for HRS-AKI, potentially eroding Keenova’s market exclusivity.
Regulatory Scrutiny
Given the boxed warning regarding respiratory failure, continued scrutiny from regulatory bodies regarding TERLIVAZ’s risk-benefit profile is likely, especially if the DDW presentation reveals new safety concerns.
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